GAAVX Performance — GMO Alternative Allocation Fund, Class VI
Data updated: 2026-09-29
GAAVX returned +1.04% year to date and +13.99% over one year to May 2026. Annualised returns are +7.04% over 3 years and +3.17% over 5 years. The fund beat its Global Ultrashort Core Bond category average: $100 invested three years ago grew to $123, against $123 for the category, and to $114 over one year, against $107. Volatility over the past three years was 5.59% a year. In the 12 months to May 2026 the fund took in a net $97.9M, and assets reached $813.65M.
GAAVX Growth of $100
What $100 invested in GMO Alternative Allocation Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Global Ultrashort Core Bond category average over the same months.
| Period | GAAVX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $114 | $107 |
| 3 years (Jun 2023 – May 2026) | $123 | $123 |
| 5 years (Jun 2021 – May 2026) | $117 | $126 |
| Since data start (Sep 2019 – May 2026) | $121 | $133 |
GAAVX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +1.04% |
| 1 year | +13.99% |
| 3 years (annualised) | +7.04% |
| 5 years (annualised) | +3.17% |
GAAVX Annual Returns
Calendar-year total returns of GMO Alternative Allocation Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +1.04% |
| 2025 | +15.16% |
| 2024 | −2.57% |
| 2023 | +6.06% |
| 2022 | +3.63% |
| 2021 | −5.15% |
| 2020 | −0.28% |
| 2019 (Sep–Dec) | +2.37% |
GAAVX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +1.5% | +2.5% | −0.7% | −1.1% | −1.2% | — | — | — | — | — | — | — |
| 2025 | −0.1% | +2.2% | +2.9% | −2.9% | 0.0% | +1.1% | +1.0% | +2.3% | +0.5% | +0.7% | +4.8% | +1.8% |
| 2024 | +0.5% | −0.5% | +0.4% | −1.0% | +1.8% | −0.3% | +0.9% | −1.2% | −1.0% | −1.5% | −1.7% | +1.2% |
| 2023 | +1.1% | +0.2% | −1.1% | +0.5% | −2.6% | +2.7% | +1.7% | +0.5% | +2.3% | −1.1% | −0.1% | +2.0% |
| 2022 | +3.9% | −2.2% | −1.9% | +0.9% | +1.7% | −3.4% | +1.1% | +0.3% | −1.2% | +0.6% | +2.8% | +1.3% |
| 2021 | −0.4% | −2.3% | +0.4% | +1.3% | +2.1% | −2.2% | −3.0% | 0.0% | −0.3% | −3.0% | −0.7% | +2.9% |
| 2020 | −2.5% | −0.5% | −4.2% | +1.8% | +0.5% | −0.2% | +1.9% | +0.2% | −0.1% | +0.5% | +1.6% | +0.8% |
| 2019 | — | — | — | — | — | — | — | — | +0.8% | −0.1% | +0.4% | +1.2% |
GAAVX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 5.59%
- 3-year Sharpe ratio: 0.45 (vs 4.5% risk-free rate)
- Best month: +4.80% (Nov 2025)
- Worst month: −2.90% (Apr 2025)
GAAVX Fund Flows
Monthly money in and out of GMO Alternative Allocation Fund, from SEC Form N-PORT.
- 12-month net flow: $97.9M
- 12-month gross sales (incl. reinvestments): $189.2M
- Sales ÷ redemptions: 2.07×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $19.9M | $462K | $19.5M |
| Apr 2026 | $13.1M | $510K | $12.5M |
| Mar 2026 | $5.8M | $13.7M | −$8.0M |
| Feb 2026 | $26.7M | $10.4M | $16.3M |
| Jan 2026 | $19.3M | $987K | $18.3M |
| Dec 2025 | $36.9M | $13.0M | $23.8M |
| Nov 2025 | $13.9M | $10.4M | $3.4M |
| Oct 2025 | $5.5M | $14.7M | −$9.2M |
| Sep 2025 | $8.5M | $3.4M | $5.1M |
| Aug 2025 | $4.1M | $5.3M | −$1.2M |
| Jul 2025 | $27.0M | $2.5M | $24.5M |
| Jun 2025 | $8.7M | $15.9M | −$7.2M |
GAAVX Assets Under Management
Net assets of GMO Alternative Allocation Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $813.65M |
| 2026-02-28 | $813.03M |
| 2025-11-30 | $749.21M |
| 2025-08-31 | $706.98M |
| 2025-05-31 | $683.31M |
| 2025-02-28 | $709.07M |
| 2024-11-30 | $176.94M |
| 2024-08-31 | $185.44M |
| 2024-05-31 | $187.07M |
| 2024-02-29 | $188.74M |
| 2023-11-30 | $184.96M |
| 2023-08-31 | $193.27M |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.